Greetings and welcome to Digital Brands Group, Inc. Fourth Quarter and Full Year 2023 Earnings Call. At this time, all participants are on a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce John McNamara, Investor Relations. Thank you, you may begin.

Thank you. Good afternoon everyone and welcome to the Digital Brands Group fourth quarter and fiscal year 2023 earnings conference call and webcast. With us on the line from management is Chief Executive Officer, Hil Davis. Hil will begin the call with an overview of the quarter and the full year, and then we will open up the line for questions. As usual, we would remind you that this call may contain forward looking statements as defined in Section 27A of the Securities Act of 1933 as amended, including statements regarding, among other things, the company's business strategy and growth strategy. Expressions which identify forward-looking statements speak only as of the date the statement is made. These forward-looking statements are based largely on the company's expectations and are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified and are beyond the company's control. Future developments and actual results could differ materially from those set forth in these forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking information will prove to be accurate. With that, I'll turn the call over to Hil Davis. Go ahead, Hil.

Yeah. Good afternoon, everyone, and thank you, John. The fourth quarter was the end of Sundry's bottom, which our first quarter results will reflect as well as our Q2 wholesale bookings. Despite lower revenue contribution from Sundry in the fourth quarter, we almost achieved breakeven net income due to our cost savings excluding non-cash expenses. Based on first quarter wholesale shipments and second quarter wholesale bookings, we're excited to see revenue growth meaningfully re-accelerate. This increase in the revenue trend will be coupled with a significantly lower operating expense structure which you can already start to see in Q4 and you saw in Q3 which will accelerate in Q1 and going forward. So with that, let's discuss the fiscal year and fourth quarter results. Net revenues increased 6.8% to $14.9 million compared to $14 million a year ago. This excludes revenue from Harper & Jones as it was spun out in the second quarter. Please note that these results exclude the -- reference also for Harper & Jones for the third quarter ‘22 and ‘23. Importantly, this represents the lowest point of Sundry's wholesale revenues in the second half of 2023 versus the first and second quarter wholesale bookings for 2024. And also, please note that this includes some non-cash charges we had to take, which I'll discuss more in the fourth quarter numbers. Gross margin increased 10.2% to $6.5 million compared to $5.9 million. Gross profit margins increased to 43.9% from 42.5% a year ago, and this also includes significant non-cash charges that we took as part of the audit process, which we’ll not incur going forward. G&A expenses, including non-cash items, decreased 12.7% to $14.3 million compared to %16.4 million a year ago. G&A expenses excluding non-cash item expenses decreased 35.7% to $8.8 million compared to $13.7 million…

That's it. I appreciate everyone's time, and we'll talk very soon. Everyone have a good day.

Ladies and gentlemen, this does conclude today's teleconference. Thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.